4. Contract Liabilities:

The Company’s contract liabilities for its franchise revenues consist of deferred revenue associated with franchise fees and software license fees. The table below presents the activity of the current and noncurrent deferred franchise revenue during the third nine months of 2019 and 2018, respectively:


	September 28, 2019		September 29, 2018
Balance at beginning of period	$	10,177,300	$	10,310,200
Franchise and software license fees collected from franchisees, excluding amount earned as revenue during the period		979,700		1,354,500
Fees earned that were included in the balance at the beginning of the period		(1,394,200)		(1,390,200)
Balance at end of period	$	9,762,800	$	10,274,500

The following table illustrates future estimated revenue to be recognized for the remainder of 2019 and full fiscal years thereafter related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 29, 2019.


Contract Liabilities expected to be recognized in	Amount
2019	$	433,200
2020		1,693,100
2021		1,554,300
2022		1,409,400
2023		1,238,100
Thereafter		3,434,700
	$	9,762,800